European Union, UK shake hands on post-divorce deal

The two sides have also agreed a draft deal extending the transition period by one or two years beyond the end of 2020, a final sticking point of the divorce deal

Representational Image/AFP

The European Union and Britain agreed Thursday a draft declaration on their post-Brexit relations that sets out an "ambitious, broad, deep and flexible partnership," officials said.

The two sides have also agreed a draft deal extending the transition period by one or two years beyond the end of 2020, a final sticking point of the divorce deal. EU leaders still have to endorse the draft declaration, which is due to accompany a draft of agreed terms for Britain's withdrawal from the bloc on March 29.

The EU leaders are due to meet at a summit in Brussels on Sunday to endorse both documents. "The declaration establishes the parameters of an ambitious, broad, deep and flexible partnership across trade and economic cooperation" and other areas, according to a copy of the document.

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